Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
If you have a fixed rate loan, the interest rate is set for the life of the loan. However, many companies offer variable rate mortgages, also known as adjustable rate mortgages or ARMs. These provide for periodic interest-rate adjustments. If your loan contract allows the mortgage company to adjust or change the interest rate, be sure you understand when the company has the right to change the interest rate, whether there are any limits on how much the interest or payments can change, and how often the company can change the rate. You also should know what basis the company will use to determine a new rate of interest.
- Home Equity Loans for People with Bad Credit
- How to Get Approved for an FHA Loan despite Bad Credit
- 3 Factors that Can Negatively Affect Your Mortgage Application
- 3 Common Short Sale Mistakes
- Second Mortgages: Advantages and Disadvantages
- 3 Reasons Banks Reject Short Sales
- 3 Warning Signs of Loan Modification Scams
- Short Selling a Rental Property
- FHA Eligibility with Bankruptcy and Foreclosure